New suitor promises to take Adapt IT to new heights but Huge Group may keep fighting

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Adapt IT has caught the eye of two companies which have made bids to acquire it
Adapt IT has caught the eye of two companies which have made bids to acquire it
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The past three months of excitement around technology company Adapt IT is coming to a head as a Canadian software group company swoops in with a new offer, but for telecoms company Huge Group - which was the first to make a play for Adapt IT - the fight is far from over.

By the time the market closed on Thursday, the company's shares had surged by more than 37%, a high it had enjoyed for most of the day, following the news about Canada's Volaris Group putting its hand up to acquire it.  

On Wednesday, Adapt IT announced that a Canadian company, the Volaris Group, had made an offer to acquire 100% of it at R6.50 per share, which is a 56.3% premium to the local software company's average 30-day share price.

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